oDesk is a global online work platform where
businesses and independent professionals connect and collaborate remotely.
Based inMountain View, CA and San Francisco, CA, oDesk was
founded in 2003 by Greek entrepreneurs Odysseas Tsatalos and Stratis
Karamanlakis.
 Type |
Private |
Industry
|
Internet
Service Marketplace Workforce Management |
Founded
|
Campbell, California
2003 |
Founder
|
Odysseas Tsatalos
Stratis Karamanlakis |
Headquarters
|
Redwood City,
California
|
Key people
|
Thomas Layton
Fabio Rosati |
Website
|
|
Background
oDesk was founded by Odysseas
Tsatalos and Stratis Karamanlakis. The two friends created a new technology
platform (an online workplace) to allow distributed teams to work together and
help instill trust in work happening via the Internet. oDesk, along with its
network of freelancers (spanning any type of work that can be done via the
Internet) launched in 2003.
Staffing
Industry Analysts refers to oDesk as an "online staffing" platform:
"Online
Staffing — A type of Talent Exchange consisting of an online platform where
contingent workers, contractors, freelancers can offer their skills and
services for limited projects or even on-going assignments and where
organizations and individuals can post their requirements or put tasks/projects
out to bid."
Staffing
Industry Analysts estimated that the total global market for "online
staffing" was approximately $1B in 2012:
'Fifteen
years ago, this industry segment did not exist. But today (after an
acceleration starting around 2007) it generates about $1B+ in global revenues,
consists of over 50 firms, and is growing at high double-digit growth rates.
Six major players account for about half of the total industry segment revenues
in 2012, but it can be expected that future market/industry expansion will also
be based on now-smaller or not-yet-formed players."
In
March 2013, Staffing Industry Analysts, projected that the "online
staffing" segment would grow to $5B by 2018.
Online
marketplaces often manage the payments and make money by charging membership
fees and/or "marking up" on the billings of the
contractors/freelancers. The mark-ups can range from 5 percent to 15 percent.
In general, these mark-ups are significantly less than the mark-ups of
traditional staffing firms, which usually—technically—enter into an employment
relationship with their workers.
Description
oDesk
allows clients to interview, hire and work with freelancers and agencies
through the company's platform.Prospective clients can post jobs for free, and
freelancers may create profiles and bid on jobs, also for free. The company collects 10 percent of the
payment.Payments are made through oDesk, which handles many bookkeeping tasks
for the transaction. The transactions are transferred into the contractors'
accounts after a 6-day safety period. The company's site is entirely in
English, and all transactions are made in U.S. dollars
As of
December 2012, oDesk had 2.7 million freelancers and 540,000 clients worldwide. In January 29, 2012, the company
reported that its top 5 countries (in terms of dollars spent for oDesk
contractor services) were (in rank order): (1) US, (2) Australia, (3) Canada,
(4) UK, and (5) United Arab Emirates.oDesk reported that services paid by
clients hiring through the site for the year totaled $360 million in 2012.
The
specific areas of expertise supported by the site include web development and a
wide variety of programming/software development skills, graphic design,
writing and administrative support. The company provides voluntary skills tests
in various disciplines from English aptitude to specific programming skills,
and profiles include a feedback mechanism.
The
company's oDesk team software increases transparency and allows a client to
have confidence in the billing done by a contractor whom the buyer may never
have met and who may be half a world away. In an October 2008 interview with
website Web Worker Daily, CEO Gary
Swart said the work diaries “give
buyers unprecedented visibility into work performed,” and that the Team
software's “hassle-free tracking guarantees convenient, safe, and accurate
billing for all work performed.
Merger with Elance
On
December 18, 2013, oDesk announced that it would sign a definitive agreement to
merge with Elance, to create an
online workplace for a combined total 8 million registered individuals. A joint
statement was issued on the same day. The Chief Executive Officer of Elance was
to lead the combined company. The new entity’s name was to be announced after
the deal was closed. According to Rosati, the executive team and board will be
balanced with people from each company. Both websites would stay open, and the
company will keep both Silicon Valley headquarters, with ODesk in Redwood City,
California, and Elance in Mountain View, California.
Awards
·
Bersin by Deloitte "WhatWorks" Award (2013)
·
oDesk ranked #543 in the 2012 Inc. 5000, #441 in the 2011 Inc.
500, #286 on the 2010 Inc. 500, and #110 in the 2009 Inc. 500
·
AlwaysOn Global 250 Top Private Companies (2012 and 2011)
·
AlwaysOn OnDemand 100 (2012 and 2011)
·
Silicon Valley Business Journal Fastest Growing Private Company
List (2011,2010 and 2009)
·
San Francisco Business Times Fastest Growing Companies List (2011 and 2010)
·
SAMCEDA Innovation & Entrepreneurship Awards - 2011 Fastest
Growing Innovator Award of Excellence
·
2011 TiE50 Internet/Social Networking Winner of TiE50
Awards Program.
·
TechCrunch50 DemoPit Winner (2010)
·
Silicon Valley Business Journal Emerging Technology Award (2009)
·
International Association of Outsourcing Professionals 2009
Global Outsourcing 100 Rising Star
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